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FCCPC begins enforcement against non-compliant digital lenders under DEON Regulations, 2025.
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Non-compliant operators removed from the official register; April 2026 set as final compliance deadline.
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Commission emphasizes consumer protection, market discipline, and regulatory certainty.
The Federal Competition and Consumer Protection Commission (FCCPC) has begun phased enforcement measures targeting digital money lending operators who failed to comply with the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations).
The compliance deadline, originally set for January 5, 2026, has passed, prompting the Commission to withdraw conditionally approved status from operators who did not regularize their operations. These entities have been removed from the FCCPC’s publicly available register of approved digital lenders.
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Executive Vice Chairman and CEO, Mr. Tunji Bello, stated that the enforcement is intended to promote transparency, market discipline, and consumer confidence without disrupting legitimate business activity.
“The FCCPC’s register guides the public on compliant operators. Consumers are advised to exercise caution when dealing with lenders not listed,” Bello noted.
As part of ongoing enforcement, the Commission is engaging application hosting platforms and payment service providers to ensure compliance. Operators designated under transitional arrangements have until April 2026 to regularize their registration. Failure to do so may result in further regulatory action.
Bello reiterated that consistent application of regulations protects compliant operators and consumers alike, ensuring a predictable and fair digital lending environment.
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